7980 Majestic Cypress Dr, Milton, FL 32583
4 beds · 4 baths · 2,269 sqft
Welcome to a beautifully designed 4-bedroom, 3.5-bathroom home offering 2,269 sq ft of luxurious living space on a spacious 0.52-acre lot in the highly sought-after neighborhood of The Preserve. With its elegant finishes, modern amenities, and split floor plan, this home is ideal for both everyday living and entertaining. As you step inside, you'll be greeted by an open concept layout, adding a touch of sophistication and grandeur to the already spacious area. The living room flows effortlessly into the gourmet kitchen, which boasts granite countertops, stainless steel appliances, a large island, and gorgeous backsplash, making it perfect for family gatherings and hosting guests. The serene primary suite is a true retreat, featuring an en-suite bathroom with a double vanity, a separate shower, and an oversized walk-in closet. Each of the three additional bedrooms include easy access to a bathroom, ensuring comfort and privacy for all. Step outside to enjoy the expansive 0.52-acre lot, offering a covered patio and gardening oasis, ideal for outdoor entertaining and relaxation. A standout feature of this home is the 3-car garage, equipped with an EV charger, perfect for electric vehicle owners. Additional amenities include central air conditioning, security system, and PAID OFF SOLAR PANELS! Save on your electricity!! Located in The Preserve, this home offers easy access to the stunning beaches, providing a perfect blend of luxury, space, and convenience. Don't miss this opportunity—schedule your private showing today!
Source: PENSACOLA #653020
Source: PENSACOLA #653020
To qualify, you must meet the current FHA or VA loan requirements depending on the type of loan you are assuming. This typically means a minimum credit score of 580, although most lenders prefer 620-640. Your debt-to-income ratio should be under the 50%. Additional information such as employment history, explanations of income for each applicant, and asset verification for a down payment may be needed to process the loan.
FHA (Federal Housing Administration) loans
FHA loans require the buyer to assume the mortgage as a primary residence. When you apply for the loan, you must attest that the home will be your primary residence for 12 months to be approved for an FHA assumption. Most lenders will ask that you move in within 60 days.
VA (Veteran's Affairs) loans
You don't have to be a veteran to assume a VA loan. However, not all veterans are willing to let a non veteran assume their mortgage. Roam confirms the seller's willingness prior to you making an offer.
Investors
You may be able to assume a VA mortgage as an investor without it being your primary residence.
What is Roam?
Roam is your trusted partner for affordable home ownership. We help manage the assumption process from start to finish, enabling homebuyers to easily purchase their next home with a low-interest rate mortgage attached.
What is an assumable mortgage?
An assumable mortgage is a type of home loan that allows a homebuyer to take over the existing mortgage terms from the seller, with no cost to the seller. Many government-backed loans, such as FHA and VA loans, are eligible for assumption, and millions of these mortgages are available.
Why is an assumable mortgage valuable?
When interest rates on mortgages are high, assuming a mortgage with a rate as low as 2% allows buyers to save up to thousands monthly compared to buying a home with a traditional mortgage at today’s average rates of 7%. A low-rate assumable mortgage could be the key to finding your dream home at an affordable price.
How can you find assumable mortgage listings?
Roam has compiled available listings with low-rate assumable mortgages for you to browse. To get started, enter the city, state, zip code, or school district you’re interested in purchasing in. Utilize the search filters to narrow down your search. Click “Save search” to save your search preferences and activate listing notifications—we’ll email you as soon as new listings match your criteria.
Once you’ve found your dream home and ready to make an offer, schedule a call with a Roam Advisor directly from the listing. Your Roam Advisor will guide you through each step of the process, while also working directly with your agent, the servicer, and the seller to ensure you close on time.
How do I qualify for an assumable mortgage?
To qualify, you must meet the current FHA, VA, or USDA loan requirements depending on the type of loan you are assuming. This typically means a minimum credit score of 620, although most lenders prefer 620-640. Your debt-to-income ratio should be under the 50% max under FHA guidelines. Additional information such as employment history, explanations of income for each applicant, and asset verification for a down payment may be needed to process the loan.
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.